Profits fall but bonuses rise at Barclays

Barclays has hiked the annual bonus pool for staff at its investment bank to £1.6 billion, despite the fact that litigation and regulatory provisions and restructuring costs dragged the division into the red in the fourth quarter, and left its pre-tax profits for the year down 37%.

Bonus awards granted at the investment bank for last year totalled £1.6 billion, up 13% from £1.4 billion in 2012, while pre-tax profits at the investment...